UPMC partners with Cavulus for predictive analytics to expand health plan
UPMC and Cavulus, a 10-year old company that serves the health insurance industry, have formed a strategic partnership.
Under terms of the deal, UPMC Enterprises, the commercialization arm of the University of Pittsburgh Medical Center, has invested in Cavulus and will continue to provide insights and joint development to grow its cloud-based technology.
“Like other partners of UPMC Enterprises, Cavulus can accelerate its growth and reduce its risks by working closely with one of the nation’s leading integrated healthcare delivery and financing systems,” UPMC Enterprises President Tal Heppenstall said in a statement.
Cavulus serves more than 35 health plans across the country, including the UPMC Health Plan. Company executives said they expect to expand by creating an end-to-end solution for targeting, acquiring, managing and retaining health insurance customers.
Cavulus’ software helps insurance companies automate marketing, sales, enrollment, retention and compliance operations, primarily in the Medicare Advantage market. Boosted by Cavulus’ predictive modeling and data analytics tools, Cavulus executives assert clients have grown membership 20 percent faster than the Medicare Advantage industry average over the past five years.
“We share UPMC’s vision of consumer-centered, affordable healthcare, driven by innovation and technology,” Cavulus CEO Patrick Phillips added.
The UPMC Health Plan has been a Cavulus customer for three years to support member acquisition for its Medicare Advantage business, which now has more than 134,000 members.
Financial terms were not released.